Rich and Archie Sign an Agreement in Which Archie Agrees

question 20

Multiple Choice

Rich and Archie sign an agreement in which Archie agrees to deliver ten cases of champagne in 5 days.The parties negotiated and meant to say in the written agreement,delivery in 50 days.If the evidence is clear that the two parties intended to agree to 50 days,the courts will probably apply the remedy of:

• A) reformation.
• B) rescission.
• C) restitution.
• D) reliance.

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Definitions:

Management Reserves

Funds set aside by management for unforeseen changes in the scope or cost of a project.

Contingency Reserves

Allocated resources, time, or funds kept in reserve to address potential unforeseen obstacles or costs in a project.

Budget Baseline

The original approved plan for the project's budget against which project performance can be monitored and controlled.

Last Moment

A point in time immediately before a deadline or significant event, often associated with high stress or urgency.